An improved process for the oxidation of toluene to obtain benzaldehyde and benzyl alcohol with high selectivities using a Co/Mn/Br- composite catalytic system in liquid phase is described. A protocol for recovery and reuse of the composite catalyst is developed. The use of low concentrations of composite catalytic systems aimed at minimizing corrosion of the reaction, and higher concentrations of toluene affording higher productivity and recyclability of the catalyst giving high turnover number, are the remarkable achievements of the present methodology. Investigation into the recycle, aging and spectroscopic studies of the catalytic system improves the understanding of the process, chemistry and mechanism of the reaction. As the market demand for each product fluctuates, the dynamic system developed here to meet changing demands is very important to obtain one of the products in excess quantities with a change of the ratio of Br-/Cl-.